My mentor is a retail trader he lets me make my own trades using my own strategy then when I’m wrong he will tell me where I went wrong he has a 85 per cent hit rate I totally recommend everybody get them self’s a mentor it has helped me so much to understand how to trade and where I am going wrong.
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Trading for a week gives you nothing to fall back on. I’m into my 16th year of trading and I’m still learning. The basics are important but not the usual stuff sent out by the brokers. Learn about the Big Robber Banks. Learn about what moves the market. Learn about best times of day to trade. Learn that the Forex market is NOT a financial market but a human behavioural one. Good luck!
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IF anyone here says they profit all the time and that they’ve not recorded any lose, then that person is not telling the truth. Things will go wrong at some point, whether it’s our making or not.
Of course there is no one who profits all the time without loses, the best we can do is minimize our loses and try our very best to maximize our profits. Anything outside this is a complete lie.
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Welcome to Forex trading bro.
Here are my recommendations:
1- Read the complete BP education before you do anything.
2-Do backtesting and choose one stretegy.
3-Demo trade until you reach 3000 pips of net wins
4-Open a real account.
5-Read one trading book a month.
6-Read BP everyday
7-Be active in this forum.
This is a long trip, spend 80% of your time testing and learning and only 20% trading. The journey to be an expert is about 7 years, so be patient.
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Nice post and good recommendation too.Especially the concluding the statement about spending most of your time on learning and practicing, that’s the only way to succeed in the market. I have been trading with Forexchief broker for a while now and their trading condition has really helped me to be consistent in profit making.
I am not entirely sure if there is anyone here in Babypips who makes money on a consistent basis year in year out. After reading a of Forums here, my conclusion is YES there are such people here but they are far and few in Babypips. On my personal journey in Forex, I have met people (not in Babypips) some in person, some online, who are fulltime home traders. Fact is those whom I have met have been through Babypips at one point or another…and after that when they got sort of consistent, they DO NOT participate too much in forums as it is time consuming. After trading sessions, they rather spend time educating themselves, or on their hobbies or growing their other businesses to create multiple streams of income, as a financial planner would advise; to diversify risks. One thing’s for sure, they got good at their game because they are very discipline in attaining and pushing their trading skills to the next level. By that I mean, as we know only 5 to 10% of traders really make money. In my opinion, I look at it like top athletes, Olympians, top musicians, top property agents, top scholars etc, these people are obsessed in what they do hence failure to them is just part and parcel of the game and they will reach their destination no matter what. I am not pointing fingers. In my own journey, this where I need to improve on, discipline in sharpening my skills and overcoming failure and learning from it.It takes a lot of work and most of all mental strength to get there.
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That’s why I mentioned before in another post that YOU are capable of achieving literally anything. It doesn’t matter what struggles you’re facing at the time. That’s all part of the process.
I was just wondering how you found your mentor? Like is he coach you pay for online ? Or did you happen to know him. Thank you .